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Forget Parabolic: Silver Is Now Asymptotic, Hits $29

Tyler Durden's picture


It seems just yesterday that we wrote about silver going not parabolic, but asymptotic, and hitting $28. A few hours later it is at $29. Blythe Masters' already terminally precarious tenure at JPM just got shortened by a few months.


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Tue, 11/09/2010 - 13:23 | 712151 Cookie
Cookie's picture

You aint see nothing yet

Tue, 11/09/2010 - 13:47 | 712254 Pedro
Pedro's picture


Tue, 11/09/2010 - 13:51 | 712274 hedgeless_horseman
hedgeless_horseman's picture

This is 100% real post-fan shit flying through the air, folks.

Tue, 11/09/2010 - 13:59 | 712321 uberfinch
uberfinch's picture

Awful lot of put activity in SLV, SLW at the moment.

Tue, 11/09/2010 - 14:10 | 712379 flacon
flacon's picture

If I had any cash left I'd be buying. 

Tue, 11/09/2010 - 14:22 | 712444 DoChenRollingBearing
DoChenRollingBearing's picture

flacon, when you get some cash, go and buy right away!  Don't let a "high" price deter you.

Tue, 11/09/2010 - 14:22 | 712449 uberfinch
uberfinch's picture

Hard to tell from his comment whether he'd be buying puts or longs

Tue, 11/09/2010 - 14:08 | 712364 beanieville
beanieville's picture

Forget tulipmanic silver.  RAX is the next "Mother Of All Short Squeezes":

Tue, 11/09/2010 - 14:47 | 712609 The Rock
The Rock's picture

If SLV is asymptotic, what does that make PCLN?

Tue, 11/09/2010 - 13:25 | 712155 Rogerwilco
Rogerwilco's picture

What, pencils don't balance on their points?

Tue, 11/09/2010 - 13:25 | 712156 truont
truont's picture

Blythe Masters already terminally precarious tenure at JPM just got shortened by a few months.

Hey Blythe, "Don't panic." Nobody is going to get screwed, right?

Tue, 11/09/2010 - 13:30 | 712178 lizzy36
lizzy36's picture

Well, if it is jamie doing the screwing, it won't be all bad.

Tue, 11/09/2010 - 13:40 | 712223 Cognitive Dissonance
Cognitive Dissonance's picture

I just love this quote. I wonder how she feels now?

Tue, 11/09/2010 - 13:44 | 712239 downrodeo
downrodeo's picture

i think she was referring to herself; for that, we can breath a heavy sigh of relief...

Tue, 11/09/2010 - 13:54 | 712292 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I can bet Turd has something to say about this.

Tue, 11/09/2010 - 14:10 | 712370 flacon
flacon's picture

Blythe eats her babies as they are being born. 

Tue, 11/09/2010 - 13:25 | 712157 americanspirit
americanspirit's picture

These are simply $1-$2 buttons popping. The seam hasn't ripped loose yet.

Tue, 11/09/2010 - 13:50 | 712270 bingaling
bingaling's picture

Agreed. This is only the beginning of the unwind wait until silver breaks the all time high when delivery can't be made .

Tue, 11/09/2010 - 13:25 | 712158 TooBearish
TooBearish's picture

Look for JPM to issue 2.5Billion 50yr bond to pay for the margin call

Tue, 11/09/2010 - 18:27 | 713880 Geoff-UK
Geoff-UK's picture

With Ben Bernake as a co-signer.


JPM SHOULD be the short of the decade.  But Uncle Sammy will come through for Jamie--with OUR tax dollars.

Tue, 11/09/2010 - 13:26 | 712163 uno
uno's picture

wonder what the BIS is up to.

Tue, 11/09/2010 - 13:41 | 712164 John McCloy
John McCloy's picture

This Jimmy Buffet Favorite comes to mind as Chopper prepares to monetize the world:

No time to count what I'm worth
Hey I just left the planet earth
But a' where I go I hope there's rum
Not to worry, more soon come

I don't know
I don't know
I don't know where I'm a gonna go
When the volcano blow

Tue, 11/09/2010 - 13:26 | 712165 Bearster
Bearster's picture

You don't mean "asymptotic", you mean "vertical".

Tue, 11/09/2010 - 13:27 | 712166 ghostfaceinvestah
ghostfaceinvestah's picture

I would like to sincerely thank the ZH website and all its commentors for giving me the conviction to stick to my commodity and PM positions, and thereby preserve my wealth against Bernanke's evil printing press.

God help my fellow Americans who aren't protected, their life is going to get really ugly, really fast.

Tue, 11/09/2010 - 13:29 | 712177 JonNadler
JonNadler's picture

you're welcome

Tue, 11/09/2010 - 14:25 | 712365 DoChenRollingBearing
DoChenRollingBearing's picture

Sr. Nadler,

Please see below comment under Shameful.

Gold to $200.

Tue, 11/09/2010 - 14:28 | 712476 DoChenRollingBearing
DoChenRollingBearing's picture

Palladium up $24 to $732 / oz.


Just stole a new JPM email:

Palladium to $40.

Platinum to $100.

Gold to $50.

Silver to $1


Tue, 11/09/2010 - 14:51 | 712635 johnnynaps
johnnynaps's picture

And......silver just dropped $1.40 in the last half/hr. after surging all morning. Manipulation? Nah, just the market setting a price!

Tue, 11/09/2010 - 15:04 | 712733 DoChenRollingBearing
DoChenRollingBearing's picture

Just saw that big spike down in both Au and Ag (2:03 ET).  Bring it down putaz, I will buy more!

Tue, 11/09/2010 - 15:17 | 712801 DoChenRollingBearing
DoChenRollingBearing's picture

I feel like a HFT going back and forth:,,,

Tue, 11/09/2010 - 13:37 | 712214 Janice
Janice's picture


I would also like to thank King World News, GATA, Jim Rickards, Ed Steer, Hugh Hendry, and my all time favorite!!!!!!!  Marc Faber !!!!

I'm proud (and richer) to be a Marc Faber groupie! 

Tue, 11/09/2010 - 14:38 | 712542 Henry Chinaski
Henry Chinaski's picture

... +30?

Thanks ZH for providing encouragement to hang in there with my tinfoil hat investment program.  Abandoning conventional wisdom has not been an easy journey.

Buying the dips is soooo 2009.  Gave up that strategy when ZH declared the start of the currency wars several weeks ago.  Yesterday  I finally went all in on SLV and GLD with the last of my 401k that was in cash. I have been buying physical, and SLV and GLD in the 401k, all along for the past couple of years, and dollar cost averaging in quality firearms.  Not ready to pull the trigger on the survival pallet yet.

(I know SLV and GLD are frowned upon here, but I'm not taking penalties on the 401k, and physical in a 401k vault somewhere isn't posession.)



Tue, 11/09/2010 - 18:03 | 713770 Double.Eagle.Gold
Double.Eagle.Gold's picture

Buying SLV and GLD you are actually working AGAINST yourself if you want the base metals to do well. Both of these funds are paper based. These are paper derivative based financial assets, they are NOT hard, gold backed assets. Don't be deceived by the Street on this.

There are good alternatives for your 401K, funds that actually buy the base metals. Take a look at: PHYS, GTU. Jesse's Cafe blog covers these, here. Pay attention to the NAV premium.

The other good play is via the miners, for which GDX is a good proxy.

And there is one last great alternative for those with 401K's, incorporate. Your 401K can follow you to new employers 401K plans. This is the law. Some people make use of this to buy franchises, incorporating and then rolling your 401K into the new structure where you buy stock of the company you form to capitalize the business. You start any type of company, leaves your options pretty wide open. The one gating criteria for rolling your 401K, you have to become an employee of the corporation. How long you have to stay an employee is unclear. Using this mechanism, you can go all physical with your 401K.


Trust Matters

Tue, 11/09/2010 - 18:30 | 713894 Geoff-UK
Geoff-UK's picture

Pay the penalties and stop playing their game.  You think you're out of the casino, but you're still playing with US Dollar chips.


Shut down your 401-K now while it's still worth something, and take physical.

Tue, 11/09/2010 - 20:40 | 714400 FreedomGuy
FreedomGuy's picture

Good luck, Henry. I cashed in one 401k on the same idea, plus I heard of a potential plan to nationalize all 401k's. So, I am halfway there with you.

Tue, 11/09/2010 - 13:45 | 712241 B9K9
B9K9's picture

Again, I ask, how does dollar destruction support our mission critical objectives in the ME? Without reserve status, we cannot maintain (military) control of essential natural resources ie petroleum.

You guys who seem to think that this is all just a lot of financial fun & games apparently have no idea what's at stake regarding geo-political strategic imperatives.

Perhaps it would be wise to review this clause:

Things are finally beginning to get, shall we say, interesting. If you think that the $USD is going to be sacrificed for short-term gain without some major countervailing action, then all I can say is "good luck with that".

Tue, 11/09/2010 - 13:48 | 712258 Shameful
Shameful's picture

Have you considered the oligarchs are changing horses? It's not like money men have not left decaying empires to find new ones. If that is the case then their goal would be one last great pillage of the US and then settle into their new empire. Looks to me like the US is going to be the global "Bad Bank".

Tue, 11/09/2010 - 14:07 | 712362 DoChenRollingBearing
DoChenRollingBearing's picture


You may want to consider joining our now informal G.O.O.D. discussion group.  Members kind of include DosZap, JonNadler and the ever humble Bearing.  Candidate hidey-holes include Peru and Argentina.

Tue, 11/09/2010 - 14:41 | 712561 Shameful
Shameful's picture

I must have missed it :) I haven't done enough research into Peru but isn't Argentina a little high on the crime side. Seems Uruguay would be a better alternative (their president is worrisome though), and then there is Chile.

Tue, 11/09/2010 - 14:47 | 712605 JonNadler
JonNadler's picture

hey if Argentina took the Nazis they can take me too! 

Tue, 11/09/2010 - 15:09 | 712763 DoChenRollingBearing
DoChenRollingBearing's picture

I'm telling you guys, JonNadler has a great sense of humor!

Although your JPM team just did a GREAT gob erasing PM gains just in the last 30 mins.  Do you have new ZH-er Obama2012 on your trading team?


But, I too have read that Uruguay is another good candidate, lots of space, pretty good climate, etc.  

Uruguay has another plus: the one afternoon we went there (day trip from B.A., Arg) my brother and I ordered beer with lunch.  It came in a huge bottle.  Little country but their brewer thinks big!

Tue, 11/09/2010 - 13:56 | 712310 Walter_Sobchak
Walter_Sobchak's picture

It doesn't, and rest assured, if Petraeus were in charge of the fed, he wouldn't be destroying the dollar.  But he's not so wake up, FED don't work for "Amerika", they work for the bankers.  Sry, but the Romans thought their military was going to save them too.

Tue, 11/09/2010 - 14:24 | 712456 Johnny Dangereaux
Johnny Dangereaux's picture

Hopefully after the US Military is out of money, we will see the true cost of petrol and let the economics take over, and we'll have plenty of energy innovation. You don't need gasoline to sit at home and watch Idol you know. "Geo-political imperatives" for whom? Byrzyzinski and the rule-the-world crowd? Eliminating the CFR would be a good start.  Reset bitchez!

Tue, 11/09/2010 - 15:08 | 712757 Pants McPants
Pants McPants's picture

A military is not needed when transactions are conducted peacefully.  The US could trade for oil....but that would mean we'd have to produce something worth trading I see the dilemma.  :)

Tue, 11/09/2010 - 15:23 | 712833 ThreeTrees
ThreeTrees's picture

WTF are you talking about man?  The US military wouldn't be sustainable if they stopped printing money.  How are they supposed to provision an army when the private industry that creates the capital from which the State takes a vig implodes via deflation?  Zero productive enterprise and zero tax revenue means the very last pretense legitimizing US Treasury debt as a sound investment goes out the window.

The current situation is a tightrope walk that will end at the slightest breeze.  "They" are balancing on the end of a pin.  For all "their" supposed control, somehow, things just keep getting worse.

Tue, 11/09/2010 - 13:45 | 712248 Trifecta Man
Trifecta Man's picture

Hang on.

Tue, 11/09/2010 - 13:50 | 712268 Ninja Report
Ninja Report's picture

Amen.  Last night I went to bed thinking "screw the dips, I'll pick up another 100oz physical silver tomorrow regardless."  I woke up to find it had jumped over 28, but stuck with the plan anyway.  Already, I am happy with the decision.

So many times, I have heard people say "oh, I will wait until things fall apart before buying gold/silver" only to reply that it will happen too fast and they will get left empty handed.  Well, now it is happening, and it is happening fast.  Grab what you can while you can.

+1 on King World News.

Tue, 11/09/2010 - 14:25 | 712461 XitSam
XitSam's picture

Agreed, but I really expected some other effect in parallel with PM increase like say gas/food shortages.

Tue, 11/09/2010 - 13:27 | 712167 digalert
digalert's picture

A Bernanke confidence vote?

Tue, 11/09/2010 - 13:27 | 712169 LoneStarHog
LoneStarHog's picture the beginning of August she said that EVERYONE IS SCARED SHITLESS OF US.

Tue, 11/09/2010 - 13:27 | 712170 The Rogue Trader
The Rogue Trader's picture

I'm with Cookie....We ain't seen nothing yet.....

Tue, 11/09/2010 - 13:48 | 712257 Hansel
Hansel's picture

Maybe we can get a massive short squeeze like oversold stocks with really thin floats. an example.

Tue, 11/09/2010 - 13:28 | 712173 tmosley
tmosley's picture

Looks like 28.96 was the high to me.

But what do I know?  I get my data from Kitco.

Tue, 11/09/2010 - 13:32 | 712182 tmosley
tmosley's picture

Guess the feed is delayed.  Looks like it hit 29.07.

Tue, 11/09/2010 - 13:29 | 712175 HarrisonBergeron
HarrisonBergeron's picture


Tue, 11/09/2010 - 13:31 | 712179 egdeh orez
egdeh orez's picture

Why the fuck is Copper moving up?  It's not even a precious metal.

Tue, 11/09/2010 - 13:35 | 712198 Rogerwilco
Rogerwilco's picture


Obviously it's signaling a vigorous economic recovery.

Tue, 11/09/2010 - 13:43 | 712236 Cognitive Dissonance
Cognitive Dissonance's picture


I just love dry humor.

Tue, 11/09/2010 - 13:35 | 712200 geminiRX
geminiRX's picture

All commodities are moving in tandem (except perhaps natural gas). Soybeans, corn, wheat, copper, silver, gold, oil, cotton...etc. It appears these are becoming the new reserve currency as the dollar is pummelled.

Cornbread bitchez!

Tue, 11/09/2010 - 14:24 | 712459 lemonobrien
lemonobrien's picture

funny... i'm southern.

Tue, 11/09/2010 - 13:42 | 712233 traderjoe
traderjoe's picture

Yes, not a precious metal, but why wouldn't you take ANY opportunity to trade little green pieces of cotton and paper for something that can be stored, and will be USED over time?

You don't think all those CB's/SWF's/etc. sitting on their dollar reserves are trying to stockpile anything of value as the dollar is getting crushed? Sell the dollar to buy anything, anything not nailed down?

Tue, 11/09/2010 - 14:02 | 712328 ghostfaceinvestah
ghostfaceinvestah's picture

I think that is the key - it can be stored and used over time, and doesn't really decay over the short term.

That is why I invested in mostly hard commodities and PMs, not Agriculture commodities.  I truly believe the Chinese et al are stockpiling copper, iron ore, PMs, oil, etc and dumping their FRNs.  Although I believe food prices will skyrocket, I think that will be mainly because the input prices to produce and distribute food (mostly energy) will skyrocket, so I invest in the rawest inputs I can find.  And of course PMs, which are a real store of wealth.

Tue, 11/09/2010 - 14:23 | 712453 Cyrano de Bivouac
Cyrano de Bivouac's picture

Even rock is going up.

Tue, 11/09/2010 - 16:03 | 713040 dark pools of soros
dark pools of soros's picture

ticket prices have been crazy.. but - you can't stop rock and roll....

Tue, 11/09/2010 - 15:00 | 712695 Absinthe Minded
Absinthe Minded's picture

Everybody is spending their dollars on anything they can before they're worthless. Weimar here we come.

Tue, 11/09/2010 - 16:05 | 713046 dark pools of soros
dark pools of soros's picture

exactly.. just pay the minimums on the credit cards, if you still have any, and someday soon you can just pay it off with a roll of copper wire

Tue, 11/09/2010 - 13:31 | 712180 SpeakerFTD
SpeakerFTD's picture

Anybody read the webbot stuff?   I view it more as entertainment than anything remotely useful, but so far, it is scarily accurate about all this.

Tue, 11/09/2010 - 13:32 | 712185 tip e. canoe
tip e. canoe's picture

freaky as in mindbending

Tue, 11/09/2010 - 13:33 | 712188 MGA_1
MGA_1's picture

lol - yep.  Well, and we're supposed to be in the middle of that tipping point thing...

Tue, 11/09/2010 - 13:35 | 712202 Samual Adams
Samual Adams's picture

Yeah, Clif High is pretty good entertainment, but the webbot has been more accurate than usual.


I wish to give my thanks to ZH for also giving me the motivations and conviction to pour my less than impressive savings into PM's mainly silver. 

Ag forever!

Tue, 11/09/2010 - 13:54 | 712293 spinone
spinone's picture

Webbots are entertainment.  chicken bones, entrails, starcharts, tarot cards. 

Tue, 11/09/2010 - 13:31 | 712181 tip e. canoe
tip e. canoe's picture

just had a thought last night:  if JPM's silver shorts are mostly legacy Bear Stearns positions, that means the FED is on the hook for the losses, correct?

Tue, 11/09/2010 - 13:33 | 712186 lolmao500
lolmao500's picture

Wiemar republic levels soon.

Tue, 11/09/2010 - 13:33 | 712187 Fearless Rick
Fearless Rick's picture

I was buying at $6, 7 just a few years ago. Then at $12, $15, and I stopped when it hit $23. Waiting for it to cool down but wondering when that will be and at what level. If it slides back to $25-26, I may just back up the truck.

Tue, 11/09/2010 - 14:03 | 712341 Walter_Sobchak
Walter_Sobchak's picture

I have a feeling that these moves mean this is it, the endgame, you are going to have to be happy with what you have because you are soon going to be priced out of the market.  It seems the big players are pouncing on the scraps at this point.

Tue, 11/09/2010 - 16:07 | 713052 dark pools of soros
dark pools of soros's picture

so you have been saving the truck space until now?? why didn't you back it up when it was single digits??

Tue, 11/09/2010 - 13:33 | 712190 Nick Utah
Nick Utah's picture

Fed just buying time until Aspartame fully kicks in.

Tue, 11/09/2010 - 13:33 | 712192 thrashertm
thrashertm's picture

I'm a little miffed. I sold out of the SLV etf in 2009 when ZH detected "multiple anomalies" in their supposed holdings I bought some physical, but not nearly enough, especially now that the price has gone to the moon. Sigh ZH.

Tue, 11/09/2010 - 13:36 | 712210 Rusty Shorts
Rusty Shorts's picture

Same here, bought in at $12 and sold at $19.50, shit - restocking as i type

Tue, 11/09/2010 - 13:55 | 712300 THE DORK OF CORK
THE DORK OF CORK's picture

Bought some silver maples to diversify my Gold holdings Nov 2009 - I just wished I bought some more.

After watching it go vertical I broke my discipline and am now buying silver philharmonics and wolfs in small quantities.

Buy the way thanks zero hedge - I just wish I had been more aggressive at the time as my limited understanding of silver implied that for it to explode the Banks would have to loose all control.

Looks like JPM is in big trouble.


Tue, 11/09/2010 - 14:11 | 712386 seek
seek's picture

You are not alone. A year after every PM purchase I've made, I've always said the same thing. I never have the stomach to go all in. Bought 1400 ounces of silver six weeks ago, now I wish I'd bought 10 times that amount!

One of the best comments I've seen here recently prompted my most recent PM purchases; the poster had said they'd bought at the market high on every purchase they'd made for the past 10 years. While I've done a little better than that, it underscores that letting fear keep you from buying at the high in a long-term bull market isn't very productive.

Just hope gold follows silver's rate of growth.

Oh, and JPM isn't in trouble. Whoever pulls JPM's balls out of the fire... they're the ones in trouble.

Tue, 11/09/2010 - 16:10 | 713067 dark pools of soros
dark pools of soros's picture

hope you are doing something remotely productive with that wealth... 

Tue, 11/09/2010 - 16:36 | 713185 THE DORK OF CORK
THE DORK OF CORK's picture

Jesus Seek if you could have bought 14000 ounces at a whim you must be seriously wealthy and liquid.

I am just a small Dork looking to survive this shitstorm - its a pity that I was just expecting a squall before the storm front arrived. - I should have went all in at the time instead of waiting for Godot.

I am switching over to buying fractional gold coins and silver ounces now.

Good luck everyone.

Tue, 11/09/2010 - 16:09 | 713061 dark pools of soros
dark pools of soros's picture

if you made gain, you made gain....  i bought netflix at $45 and sold at $50..  great little gain right??   right???? 

Tue, 11/09/2010 - 13:44 | 712244 traderjoe
traderjoe's picture

The point probably was to sell SLV and buy the equivalent physical. To keep your position, but move to the real assets and avoid the paper. 

Tue, 11/09/2010 - 14:04 | 712336 andy55
andy55's picture

Precisely.  So my question to the ppl who didn't buy back physical the same amount that they sold in SLV: are you normally not rational/logical?  Simple risk analysis, folks.


Wed, 11/10/2010 - 02:22 | 715052 thrashertm
thrashertm's picture

I don't have enough room to store that much physical =)

Tue, 11/09/2010 - 13:35 | 712196 lolmao500
lolmao500's picture

Hopefully JPMorgan stop getting investigated and receive a bailout so they can continue shorting the hell out of silver so it goes back below 20$.

Tue, 11/09/2010 - 13:36 | 712205 jimijon
jimijon's picture

Thankfully, I ordered my new round to be minted last month. I haven't even received them yet and am still making money! Anyway, unabashed promotion for my 1oz .999 Silver AOCS Round at 

Anyway, I am pre-selling them. I only am minting 250


Tue, 11/09/2010 - 13:36 | 712206 flaunt
flaunt's picture

This is just silver "adjusting" upward for a number of reasons:

Big short position in the comex that has been going on for years

Pissed off traders looking to exact some revenge

Extremely depressed gold/silver ratio

Loss of confidence in fiat currencies

International bankers starting to talk up the possibility of a new currency standard involving precious metals

If the trend continues and the S&P just treads water while the metals keep going higher then money is going to start flowing from the former into the latter which add fuel.


Tue, 11/09/2010 - 13:36 | 712207 Rylie
Rylie's picture

I have an honest/newby question?

the price of Silver and Gold are in Troy Oz's and when you buy a Round or a bar the weight is in Troy Oz. however when you buy say a Canadian Maple it is weighed in Metric oz.

there are 12 Troy Oz in a pound and 16 metric Oz in a pound. so why is there are larger preimum on a Canadian maple that has less silver by weight in it?

I have both types of coins from a rep. dealer and you can feel the weight difference holding them in your hand.

Tue, 11/09/2010 - 13:41 | 712220 technovelist
technovelist's picture

There is no such thing as a "metric ounce". Are you referring to Avordupois ounces? I'm fairly certain that all major precious metal coins are weighed in Troy ounces.

However, there may be a different alloy composition in some coins, e.g. .9999 fine vs. .900 fine; the latter coin would weigh more but have the same silver (or gold) content.

Tue, 11/09/2010 - 13:44 | 712240 Rylie
Rylie's picture


Tue, 11/09/2010 - 13:37 | 712213 wawawa
wawawa's picture

Last year I got some silver. 

What is your target price to sell?   My amature guess is to sell around $40.

Tue, 11/09/2010 - 13:40 | 712226 MGA_1
MGA_1's picture

Shoot - I wait until the monetary system reset.

Tue, 11/09/2010 - 13:44 | 712242 tmosley
tmosley's picture

You don't sell silver for dollars unless you need transactional currency for some reason.

You sell silver for gold, or you spend it.

Tue, 11/09/2010 - 14:04 | 712345 Questionmark
Questionmark's picture

Yea, my plan is to hold silver until the silver/gold ratio approaches 15:1 then trade it in for gold.

Tue, 11/09/2010 - 14:14 | 712400 DoChenRollingBearing
DoChenRollingBearing's picture

Second that.  NEVER sell your silver or gold unless you HAVE too.

When the time comes, quietly give it away...

Tue, 11/09/2010 - 16:14 | 713083 dark pools of soros
dark pools of soros's picture

what kind of crony wack job advice is that?? are you admitting you are just a proxy of stored wealth and have no clue on using any of your wealth in a productive manner?  what type of society exists in complete stasis??  


protect your wealth but plan to do something positive with it..

Tue, 11/09/2010 - 13:46 | 712252 FreedomGuy
FreedomGuy's picture

Nice timing, Wawa. I just got mine today, lol! I think when it comes to selling it depends on why you bought it. If you bought it as a defense against the apocalyptic hyperinflation meltdown often predicted here, you don't sell at all...or not till you see them adding zero's to the Franklins. If you have a lot you could sell some for cash, maybe to cover what you paid for it. However, how will you feel if the world goes to hell or we even get a repeat of the early 80's and get a proportional price of say $125/0z.?

If you're a trader doing the buy-sell-profit, then go for it! It depends on your goal. I have it as a hedge against the worst and also a very long term in retirement or even inheritance for my kids. Good luck on your decision and congrats on the smart buy!

Tue, 11/09/2010 - 13:46 | 712253 traderjoe
traderjoe's picture

IMHO, silver is not a trade. It is a hedge against a monetary reset. As TM says above...there is no FRN price I will sell my silver at. 

Tue, 11/09/2010 - 13:54 | 712297 Trifecta Man
Trifecta Man's picture

It's the perfect storm.  Just hang on.

Tue, 11/09/2010 - 13:55 | 712307 spinone
spinone's picture

Silver is not an ivestment so much as insurance against problems with the dollar based system

Tue, 11/09/2010 - 19:54 | 712347 PeterSchump
PeterSchump's picture

Don't sell until you see someone like Volker walking up the steps to the Fed.

Tue, 11/09/2010 - 13:39 | 712221 Absinthe Minded
Absinthe Minded's picture

Off topic but has anybody heard anymore about a missile being fired from a sub 30 miles off the coast of California last night around 5 PM PST?
Heard something about it on Beck's radio show but haven't heard anything from the MSM.

Tue, 11/09/2010 - 13:51 | 712272 Jendrzejczyk
Jendrzejczyk's picture

It was Bernenke's escape pod.

Tue, 11/09/2010 - 14:19 | 712432 tmosley
tmosley's picture

Footage from the upcoming documentary on the event:

Tue, 11/09/2010 - 14:37 | 712532 Jendrzejczyk
Jendrzejczyk's picture

Where's Mr. Banzai? We need a visual.

Tue, 11/09/2010 - 14:53 | 712607 cranky-old-geezer
cranky-old-geezer's picture

ICBM size contrail, trajectory reminds me of space shuttle launch, i.e. beyond the atmosphere.  Likely submarine launch.  If so it's not accidental, very deliberate, submarine launch sequence involves many steps and several people.

Tue, 11/09/2010 - 13:53 | 712283 Big Corked Boots
Big Corked Boots's picture

There's a link to a KCBS news clip at

They are suggesting the US launched it to remind Asia of its military power. My guess is the opposite... China launched it to remind us of thier power.

We live in interesting times.

Tue, 11/09/2010 - 14:06 | 712358 iDealMeat
iDealMeat's picture

This is pretty crazy news.. And Obama is calling his trip short..

game on?

Tue, 11/09/2010 - 13:41 | 712225 Endstrategy
Endstrategy's picture

Guys, seriously, SELL your gold and silver NOW!

I just heard the US economy has stabilized and the dollar is "strong" again.  Bernanke's plan worked.  I know, crazy right?  But it has worked, and unemployment is expected to be at 4% at the end of this month.  Your best bet is to get out of gold and silver before it drops to $0, and start buying up greenbacks.

Tue, 11/09/2010 - 13:48 | 712260 traderjoe
traderjoe's picture

What an odd post. Not obviously sarcastic. Not really that funny. And not close enough to "truthy" to be a shill/troll. Oh well.

Tue, 11/09/2010 - 14:01 | 712333 Cruel Aid
Cruel Aid's picture

The only thing real about that post is that my SLW chart clearly shows fear and loathing and take profit soon. He is 100% kidding!

Tue, 11/09/2010 - 14:55 | 712662 Endstrategy
Endstrategy's picture

traderjoe, thanks for one of the better compliments I've ever had in my pursuit of finding that happy awkward medium of getting people to ask "Is he serious?" "No, he's joking!" "Ah, I don't think it's a joke. He sounds serious."

Tue, 11/09/2010 - 16:17 | 713093 dark pools of soros
dark pools of soros's picture

you mean it sounds just like the regular news??

Tue, 11/09/2010 - 15:17 | 712805 Millivanilli
Millivanilli's picture


Tue, 11/09/2010 - 13:41 | 712228 Grifter
Grifter's picture

FML.  I hit a bunch at $17.67, and even then I was pissed because I thought I was buying at/near another top.  Happy how that worked out, obviously, but...

Been waiting for another pullback even as the left hemisphere of my brain has been saying "look dickweed, you know $35/oz is coming, and $50 is no longer as insane as it once seemed..."

And yet I stare at my APMEX cart and get angry that I'm about to buy at another top.  Eff you, brain.

Tue, 11/09/2010 - 13:46 | 712249 flaunt
flaunt's picture

lol I've done the same thing many times in the past.  Then I get over it and click the button :)

Tue, 11/09/2010 - 13:47 | 712255 Jendrzejczyk
Jendrzejczyk's picture

APMEX just upped their premiums.

Tue, 11/09/2010 - 13:53 | 712286 tmosley
tmosley's picture

Since I hit the order button less than three hours ago, they have run out of four different types of 1oz rounds, and delisted at least one other (the APMEX round, which is what I ordered).


Tue, 11/09/2010 - 13:56 | 712308 flaunt
flaunt's picture

might be able to find what you're looking for listed here:

Tue, 11/09/2010 - 14:07 | 712363 Grifter
Grifter's picture

Hey thanks for the link, flaunt!  Nifty little site!

Tue, 11/09/2010 - 14:05 | 712354 Jendrzejczyk
Jendrzejczyk's picture

I always type 9999 in the quantity box and it will automatically reset to the exact number of each item they have. Easy way of keeping track of their inventory/sales.

Tue, 11/09/2010 - 14:34 | 712517 RmcAZ
RmcAZ's picture

Wow, good to know. Thanks. :)

Tue, 11/09/2010 - 16:06 | 713050 flacon
flacon's picture

For silver if they have more than "9999" you can find out their inventory: If you have google Chrome you can right-click in the text box and select "Inspect Element" - the last number in their "updatebuttonKeyDownmoz" JavaScript call function is the inventory amount. 


For example 2011 Silver Maple Leafs:


<input name="ctl06$ctl00$Products1$Repeater1$ctl07$txtQty" type="text" maxlength="4" id="ctl06_ctl00_Products1_Repeater1_ctl07_txtQty" onkeydown="updatebuttonKeyDownmoz(event,this, 'ctl06_ctl00_Products1_Repeater1_ctl07_btnAddToCart', 43807);" onkeyup="updatebuttonKeyUpmoz(event,this, 'ctl06_ctl00_Products1_Repeater1_ctl07_btnAddToCart','59158','E.P', 43807);" style="width:30px;">


This means they have 43,807 ounces left. 


I am a software developer and work on Java web-based enterprise software. :)

Wed, 11/10/2010 - 05:45 | 715552 Jendrzejczyk
Jendrzejczyk's picture

Smartypants showoff.  ;)

Tue, 11/09/2010 - 13:48 | 712259 tmosley
tmosley's picture

If it makes you feel better, you have company.  I just made my monthly purchase, as I see no pullback in site until we hit $32 or so, at which point the pullback probably won't take us back below $29 or $30.

Or it could drop to $9, like after I bought my very first set of silver at ~$20.  I was kind of pissed, but I was a lot happier at being able to buy twice as much with my salary.

Tue, 11/09/2010 - 13:51 | 712269 traderjoe
traderjoe's picture

I too think their might be a pullback if the shit really starts to hit the fan (margin liquidations). On the other hand, there seems to be a lot of buying interest in the PM's. Any immediate pullback seems to be met with buying interest...

Tue, 11/09/2010 - 13:52 | 712280 Dburn
Dburn's picture


And yet I stare at my APMEX cart and get angry that I'm about to buy at another top.  Eff you, brain.

Tue, 11/09/2010 - 14:15 | 712408 billhilly
billhilly's picture

Yes, I can't tell you how many Apmex emails I get stating that my cart still has items in it.  But often I do hit the button too.  Just 1 1/2 weeks ago they had the "pre-fed" special offer and it's amazing how quickly they sold out of things (especially the 100 oz AG Bars adn the 1 oz Krugerands)  I'm LUCKY to have hit my purchase button Sunday night because Monday am. they were empty on SO many things.

Tue, 11/09/2010 - 14:34 | 712515 DoChenRollingBearing
DoChenRollingBearing's picture

Physical shortages coming!  Months ago, fearless Gordon_Gekko said:


Glad I did.  Should have bought more silver while there at the coin shop.  At least I have enough to have a horse in this race.  Hiyo Silver!

Tue, 11/09/2010 - 13:44 | 712243 SpeakerFTD
SpeakerFTD's picture

Looks to me like a race between AG and long bond yields.

Either way, Ben loses.

Tue, 11/09/2010 - 13:45 | 712250 max2205
max2205's picture

maybe  SLV was the unknow missle launched near LA??!!??

Tue, 11/09/2010 - 14:07 | 712346 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

SLV is to a North Korean missle as silver is to a super nova.

Tue, 11/09/2010 - 13:46 | 712251 wafflehead
wafflehead's picture

silver at $29 ohh baby !

Tue, 11/09/2010 - 13:49 | 712262 deepsouthdoug
deepsouthdoug's picture

Man!  Time to sell my $25 silver that I loaded up on...........................30 years ago!  ;-)

Tue, 11/09/2010 - 13:52 | 712281 traderjoe
traderjoe's picture

Or the INTC that you top-ticked at $72 in 2000. Or CSCO at $80. Webvan? Shall I go on?

Tue, 11/09/2010 - 14:04 | 712348 deepsouthdoug
deepsouthdoug's picture

None of those other ones.  Gotten better at this game asthe years have rolled on.

Tue, 11/09/2010 - 13:51 | 712273 Turd Ferguson
Turd Ferguson's picture

At $30, I'm going to book some trading profits and wait to see if a very short-term pullback develops.

Tue, 11/09/2010 - 13:55 | 712304 Dburn
Dburn's picture

At $30, I'm going to book some trading profits and wait to see if a very short-term pullback develops.

That may be tomorrow if it keeps up with this 4-5% increase. My 31 Jan calls are up 220% when I said "Your buying at the top at $24.90, what a loser "

Tue, 11/09/2010 - 14:06 | 712334 Pegasus Muse
Pegasus Muse's picture

I just tightened up my stops.  It's hard to know where to set them for the miners.  They're so volatile.  So I'm allowing for a 25% sell-off before I'm stopped out.  I'll still be making good money.    

Tue, 11/09/2010 - 14:02 | 712337 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If there is a pullback, it will be quick and painless, as POMO goes full retard here in a short week.  I think I may have been a little low on the predictions as I am quite sure it will make it to $36 by Dec 21st.  I think I may revise that and call for $42/OZ by the solstice.

Tue, 11/09/2010 - 14:30 | 712495 silver surfer
silver surfer's picture

You dont want to lose your position in a Bull marked.



Tue, 11/09/2010 - 13:51 | 712276 Kaiser Sousa
Kaiser Sousa's picture

but u cant eat Silver...


Tue, 11/09/2010 - 14:11 | 712387 Stuart
Stuart's picture

ya, ok Karl... LOLOLOLOLOLOL

Tue, 11/09/2010 - 13:53 | 712284 SilverIsKing
SilverIsKing's picture

who's the king?



Ahhhh, much better.

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